Is HDFC Life Sanchay Plus a worthy tax free guaranteed return option?

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Tax free and guaranteed returns has always been a crowed puller with investors. In these uncertain times, it acquires the form of ‘Amrit‘. So, if one tells you that you can get a neat 5% to 6% guaranteed rate of return, tax free, changes are you will salivate.

Well, this is how our today’s product – HDF C Life Sanchay Plus – is pitched.

Better than a Bank Fixed Deposit.” Seriously!

For the past many years, Bank FDs have faced an onslaught from every corner. The current opportunity looks perfect.

FD returns are now sub 5%. They are taxed too. HDFC Life’s financial consultant, I was talking to, went even further. “The money you put in FD, as you know, is swindled away by big industrialists and is not as safe.”

Beat that!

“In contrast, any contribution you make to HDFC Life Sanchay Plus gets you a tax benefit. It gives you a guaranteed, tax free return. The maturity amount is tax free too.”

Are you salivating?

Some are. I received multiple queries about the product so I decided to find out. I went through the online brochure (it’s a torture), looked at illustrations shared with me and even spoke with the HDFC Life financial advisor.

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Frankly, if you were to decide on an investment based on how easy to understand it is, this one should be ignored right away.

Still interested? Go ahead and read.

So, what’s the construct of the HDFC Life Sanchay Plus plan?

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Vipin Khandelwal
Vipin is a SEBI Registered Investment Adviser. He works with investors to make better decisions and create behaviour alpha.
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